Just after mortgage rates spiked to 6%, George Reedy put his South Carolina home on the market in July 2022. He needed to sell for personal reasons. He was also worried that by listing after mortgage rates had spiked, he'd miss out on the frothy prices hit at the top of the Pandemic Housing Boom just months earlier.
"Originally, I thought we'd run into problems, I thought we'd sell for $350,000... But, we were on the market for less than a week, and had an offer," Reedy tells Fortune.
